(RTTNews) - After reporting above average demand for this month's three-year and ten-year note auctions earlier this week, the Treasury Department on Thursday revealed this month's auction of $22 billion worth of thirty-year bonds attracted below average demand.
The thirty-year bond auction drew a high yield of 4.623 percent and a bid-to-cover ratio of 2.37.
Last month, the Treasury sold $25 billion worth of thirty-year bonds, drawing a high yield of 4.748 percent and a bid-to-cover ratio of 2.33.
The bid-to-cover ratio is a measure of demand that indicates the amount of bids for each dollar worth of securities being sold.
The ten previous thirty-year bond auctions had an average bid-to-cover ratio of 2.43.
Earlier Thursday, the Treasury Department also announced the details of this month's auction of twenty-year bonds.
The Treasury said it plans to sell $13 billion worth of twenty-year bonds, with the results of the auction due to be announced next Tuesday.
Last month, the Treasury sold $16 billion worth of twenty-year bonds, attracting below average demand.
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